For foreigners, the purchase of real estate has become one of the main ways to obtain residence by investment in Spain. However, to maintain this type of residence, you must take into account the requirements and conditions that we will detail in this blog to successfully renew the Golden Visa in Spain, including deadlines and legal information that will help you carry out this process without any problem.
When should I renew my Golden Visa in Spain?
Questions about the duration and validity of the Golden Visa in Spain (also called Investment or Investor Visa in Spain), are one of the most frequent doubts when it comes to Spanish residence procedures so here at Entre Trámites we will solve all your concerns.
When the investment residence permit is obtained for the first time, it is valid for two years; it should be added that if it is obtained at the Spanish consulate in your country of origin, it would last for one year only.
At the end of this validity period, it will have to be renewed. One of the main advantages of this type of visa, which is governed by the Entrepreneurs Law, is that when you renew it, your new card will be valid for 5 years .
In this way, the renewal process will be avoided every two years (there are cases of other residence permits under a general regime that are renewed every two years) , without worries and without the need to carry out continuosly bureaucratic procedures.
Note: The renewal process must be started between 60 days before and 90 days after the expiration date of your permit. If it is not carried out within this stipulated period, the renewal will not be accepted.
Requirements to renew the Golden Visa in Spain
By having this type of residence by investment in Spain, you can enjoy some advantages in terms of renewal requirements, since these are simpler and easier to meet than other residence permits and visas. These are two conditions that the applicant must meet in order to maintain and renew their Spanish Golden Visa successfully:
- Demonstrate that you are still in possession of assets/investment/property above the same minimum value and which you used to obtain the visa in the first place; or failing that, these should have an even higher value.
- Demonstrate that you have visited the country at least once during the visa validity period. This condition allows you to move freely within the European Union with your family members, or even live in these countries.
Can you apply for permanent residence or citizenship when renewing your Spanish Golden Visa?
The answer is yes, but the number of renewals made prior to the application for citizenship must be taken into account.
As a first requirement, it must be confirmed that all the years spent holding a Golden Visa in Spain count towards obtaining permanent residence or Spanish citizenship. So, to apply for it you must take into account the following:
- You must have lived in Spain with a Golden Visa for a minimum of 5 years to apply for permanent residence.
- To apply for citizenship, you must prove that you have lived in the country for 10 years. This requirement does not apply to applicants from countries such as the Philippines, Portugal, Andorra, Equatorial Guinea or from any Iberoamerican country, in which case they can obtain it after only two years, this is due to agreements between Spain and these countries.
On the other hand, when obtaining the residence card for investment of 2 years, it is renewed and the 5 years of completion are obtained and once 3 years have elapsed after the second renewal, it would become permanent residence. Finally, after 5 years with the permanent residence you will be able to apply for the Spanish citizenship.
Note: You must take into account that there are countries that do not have an agreement with Spain and therefore when you go through the Spanish citizenship process, you will only be able to have one nationality. That is to say that you would lose your nationality of origin and carry only the Spanish one.
Step by step of the renewal of your Golden Visa in Spain
- To renew your Golden Visa in Spain, you must take into account the documentation that you will have to present to the Unidad de Grandes Empresas y Colectivos Estratégicos en España (UGE).
- The response period is 20 days, as long as it meets all the requirements already stated.
- Once you have a concrete answer, you can schedule an appointment at the immigration office to register your fingerprints again and return a month later to receive your renewed residence card.
These processes are usually simple for some and complicated for others. But here at Entre Trámites we offer you personalized advice to make it as easy as possible for you.
Contact us! Book a free consultation to solve all your doubts, call our line 930 185 237 or write to our WhatsApp .
